Nisa Investment Advisors LLC decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 75.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the insurance provider’s stock after selling 6,076 shares during the period. Nisa Investment Advisors LLC’s holdings in RenaissanceRe Holdings were worth $289,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in shares of RenaissanceRe Holdings by 13.9% in the fourth quarter. Bessemer Group Inc. now owns 209,964 shares of the insurance provider’s stock valued at $28,601,000 after buying an additional 25,570 shares during the last quarter. Morgan Stanley raised its stake in shares of RenaissanceRe Holdings by 103.3% in the third quarter. Morgan Stanley now owns 193,323 shares of the insurance provider’s stock worth $23,230,000 after buying an additional 98,224 shares during the last quarter. Polar Capital LLP raised its stake in shares of RenaissanceRe Holdings by 7.3% in the third quarter. Polar Capital LLP now owns 147,500 shares of the insurance provider’s stock worth $17,724,000 after buying an additional 10,000 shares during the last quarter. Moon Capital Management LLC raised its stake in RenaissanceRe Holdings by 2.5% in the first quarter. Moon Capital Management LLC now owns 17,731 shares of the insurance provider’s stock worth $2,565,000 after buying an additional 434 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in RenaissanceRe Holdings by 1.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 9,370 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.
Shares of RenaissanceRe Holdings Ltd. (RNR) traded up 0.90% during mid-day trading on Friday, reaching $141.94. 287,668 shares of the company traded hands. RenaissanceRe Holdings Ltd. has a 52 week low of $111.48 and a 52 week high of $150.74. The firm has a 50 day moving average of $140.18 and a 200-day moving average of $140.43. The stock has a market capitalization of $5.77 billion, a PE ratio of 13.23 and a beta of 0.61.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, June 13th. RenaissanceRe Holdings’s dividend payout ratio is currently 11.94%.
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A number of equities research analysts recently commented on RNR shares. ValuEngine upgraded shares of RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. Wells Fargo & Company reissued a “hold” rating on shares of RenaissanceRe Holdings in a research report on Sunday, April 16th. Citigroup Inc. boosted their price objective on shares of RenaissanceRe Holdings from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, April 7th. Finally, BidaskClub downgraded shares of RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $136.95.
In other news, SVP Stephen Howard Weinstein sold 14,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $143.19, for a total value of $2,004,660.00. Following the transaction, the senior vice president now owns 75,162 shares in the company, valued at approximately $10,762,446.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Odonnell sold 7,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $141.64, for a total value of $991,480.00. Following the completion of the transaction, the chief executive officer now owns 222,854 shares in the company, valued at approximately $31,565,040.56. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $4,006,940 in the last ninety days. 1.80% of the stock is owned by corporate insiders.
About RenaissanceRe Holdings
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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